journal entrie
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 45P
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Question
The company’s
| Year 1 | Year 2 | |
| Cash | 19,400 | 48500 |
| A/R | 30,000 | 90000 |
| Allowance for |
-5,000 | -25000 |
| Prepaid Supplies | 500 | 1500 |
| DTA (DTL) | 2000 | 2000 |
| A/P | -15000 | -45000 |
| Income Tax Payable | -14000 | - |
| R/E | - | -17900 |
| Revenue | -50000 | -100000 |
| Political Contributions | 100 | 900 |
| Wages | 15000 | 25000 |
| Bad Debt | 5000 | 20000 |
| Income Tax Expense | 12000 | - |
| 0 | 0 |
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